Frigo-Pak Gida Maddeleri Sanayi ve Stock Forecast

Frigo-Pak Gida Maddeleri Sanayi ve stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 18, 2024)

FRIGO.IS Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 11.24%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Frigo-Pak Gida Maddeleri Sanayi ve stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at TRY 7.95. On a fall, the stock will find some support from the short-term average at TRY 7.72. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Frigo-Pak Gida Maddeleri Sanayi ve stock

Frigo-Pak Gida Maddeleri Sanayi ve finds support from accumulated volume at TRY 7.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved TRY 0.250 between high and low, or 3.29%. For the last week, the stock has had daily average volatility of 3.91%.

Our recommended stop-loss: TRY 7.57 (-3.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (FRIGO.IS) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Frigo-Pak Gida Maddeleri Sanayi ve Ticaret A.S. to open at TRY 7.76, and during the day (based on 14 day Average True Range), to move between TRY 7.46 and TRY 8.18, which gives a possible trading interval of +/-TRY 0.357 (+/-4.57%) up or down from last closing price. If Frigo-Pak Gida Maddeleri Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 9.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at TRY 8.04 (2.81%) than the support at TRY 7.57 (3.20%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Frigo-Pak Gida Maddeleri Sanayi ve Ticaret A.S. stock A Buy?

Frigo-Pak Gida Maddeleri Sanayi ve holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.559 Hold/Accumulate Upgraded

Predicted Opening Price for Frigo-Pak Gida Maddeleri Sanayi ve Ticaret A.S. of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.